Last week Reserve Bank of India (RBI) had cut both repo rate and cash reserve ratio by 25 basis points each. This has lead to several banks lowering their base rates. This in turn has lead to cheaper Home and Auto loan rates. The good news is most banks have not yet started lowering their Fixed Deposit rates.
Below is the summary of Loan Rate cuts that happened last week:
You can expect more such announcements from Banks this week too.
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This is good news for me as I had to take home loan in next few weeks.
Yes its definitely good news for borrowers. Which bank are you planning to borrow from. Do let us know your experience